Tag: UK business

The knee-jerk reaction to the UK leaving the EU is to perhaps avoid doing business in Britain, however the smarter organisations are thinking ahead, being brave and setting up businesses in the UK – and it looks like they’re set to reap the rewards.

One major point to note is that the UK hasn’t left the EU yet. Once the government triggers Article 50, it still has a full two years to negotiate withdrawal. This gives a fantastic window of opportunity for businesses to set up and grow their market while the country is still in transition.

Here are some of the advantages of expanding to the UK right now:

Recruitment

Many companies, such as those in the tech scene, might benefit from more selective immigration requirements available to a post-Brexit UK. More work visas can be granted to experienced specialists from areas other than the EU, such as India and China.

Currency

A weaker pound will lower export costs from the UK. This could help EU-based companies lower their production costs and so be more competitive. The UK is also still right next door to Europe, so having cheap production close by also offers huge advantages.

Regulation

The UK is now free to establish its own regulations in sectors such as tax, finance and legal, tailored to its own needs. Agreements can be varied on a country by country basis, so a deal with Sweden may differ from a deal with Germany. This could increase competition which in turn provides great opportunity for growth.

Flexibility

A UK not tied to the European Union can react quickly to global events and market shifts. This could be very advantageous to smart, agile organisations with lofty ambitions.

Opportunity

The UK is also dealing with some internal questions over its own union. Should Scotland break away but remain in the EU, there will be a huge benefit to accessing the EU via Scotland, while simultaneously taking advantages of non-EU freedoms in England or Wales.

It really is worth considering setting up a business in the UK, even though there are so many unanswered questions. Fortune favours the brave they say, and at Goodwille we can make it much easier by giving you expert legal and financial advice to help you focus on the business benefits of setting up in the UK. Contact us today if you need help!

This update is for general guidance only. Specific legal advice should be obtained in all cases. This material is the copyright of Goodwille Limited (unless otherwise stipulated) and is not to be reproduced in whole or in part without prior written consent.

Whether you’ve just moved to the UK and are looking to start a business here, or you’re the owner of an established business in Germany, Norway, Sweden or elsewhere that is looking for opportunities to expand overseas, setting up business in another country can be daunting. Developing an in-depth understanding of a country’s laws, politics, culture and the way they do business can take a long time, which you may not have if you’re looking to establish your company quickly. Here are just a few of the many challenges faced by business people who want to start a business overseas.

1. You’re not accustomed to the different laws

Of course you have done your research thoroughly, and you have more than the basics cemented firmly in your mind, but you may not know all of the subtle differences between trading laws in the country you have just left and the UK. It is these subtle differences that could affect your entire business model and the way your company will operate. You need to be fully aware of them so you can be safe in the knowledge that your business is legally compliant.

2. You aren’t familiar with the culture

Only after spending a considerable amount of time in a particular country can you fully understand its cultural nuances, so if you haven’t had that opportunity before setting up business, you may feel like you’re at a considerable disadvantage. Being familiar with cultural differences is important for even the most basic sort of communication, navigating business deals and solving problems in the workplace.

3. Hiring the right people

Recruiting the best people for your company is difficult enough in your home country, but it can be even more complicated when you’re in unfamiliar territory. Even if the language barrier isn’t a problem, you have to know where the best places are to look for candidates, and be able to determine whether they have the experience to fit your requirements.

Goodwille understand how difficult it can be to set up business in a new country, and we can support you every step of the way. We will help you to navigate UK trading laws, take care of financial administration, find the most suitable people for your company, and more. Get in touch to see how we could assist you.

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